Regulatory Alerts2010-04-22
Instructions Concerning the Ratio of National Manpower at Local Banks
The Central Bank of Kuwait mandates all local banks to progressively increase their national employee ratio to a minimum of 50% through a structured six-period timeline culminating on March 15, 2007. Banks must submit quarterly reports detailing the number and job levels of Kuwaiti and non-Kuwaiti staff, including outsourced personnel but excluding office boys, drivers, and messengers. Strict adherence to this schedule is enforced, with the regulator reserving the right to impose penalties for significant unexcused deviations across any reporting period.
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